The Andhra Pradesh Maritime Board and Visakhapatnam Port Authority have signed a Memorandum of Understanding to establish a special purpose vehicle (SPV) aimed at developing a National Mega Shipbuilding Cluster in Dugarajapatnam, Andhra Pradesh. This initiative will focus on creating a comprehensive shipbuilding and repair infrastructure, enhancing the state’s maritime capabilities.
The newly formed SPV, named National Shipbuilding & Heavy Industries Park Andhra Pradesh Ltd (NSHIP-AP Ltd), is a 50/50 joint venture. It is tasked with planning, developing, and operationalizing a greenfield port and shipbuilding cluster in the Tirupati District. This project aligns with the Shipbuilding Development Scheme and the Maritime India Vision 2030, which aim to boost the maritime industry in India.
In addition to shipbuilding, the SPV will oversee ship repair, heavy engineering, and related marine infrastructure. Its responsibilities include land allocation for shipyards and ancillary industries, project implementation through various models, and collaboration with private developers. The initiative is backed by a substantial budget of ₹19,989 crore from the central government, which aims to support the establishment of multiple shipbuilding clusters across India.
Overall, this venture represents a significant step toward enhancing India’s maritime manufacturing ecosystem, with the government aiming to provide substantial capital support for both new and existing shipbuilding facilities.
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